The following balance sheet has been produced for Litz Corporation as of August 8, 2015, the date on which the company is to begin selling assets as part of a corporate liquidation:

LITZ CORPORATION Balance Sheet August 8, 2015
Assets
Cash	$	16,000
Accounts receivable (net)		82,000
Investments		32,000
Inventory (net realizable value is expected to approximate cost)		69,000
Land		30,000
Buildings (net)		340,000
Equipment (net)		210,000
Total assets	$	779,000
Liabilities and Equities
Accounts payable	$	150,000
Notes payablecurrent (secured by inventory)		132,000
Notes payablelong term (secured by land and buildings [valued at $300,000])		259,000
Common stock		135,000
Retained earnings		103,000
Total liabilities and equities	$	779,000

The following events occur during the liquidation process:

	The investments are sold for $39,000.
	The inventory is sold at auction for $48,000.
	The money derived from the inventory is applied against the current notes payable.
	Administrative expenses of $15,000 are incurred in connection with the liquidation.
	The land and buildings are sold for $315,000. The long-term notes payable are paid.
	The accountant determines that $34,000 of the accounts payable are liabilities with priority.
	The companys equipment is sold for $84,000.
	Accounts receivable of $34,000 are collected. The remainder of the receivables is considered uncollectible.
	The administrative expenses are paid.

a.	Prepare a statement of realization and liquidation for the period just described. (Amounts to be deducted should be indicated with a minus sign.)

b.	What percentage of their claims should the unsecured creditors receive?